The slowdown is linked to the alignment of grain harvesting timelines: the expansion of agricultural production slowed to 6.5% after 12.9%, as well as to a cooling of activity in industry and construction.

The economy is supported by consumer demand. Retail turnover grew by 8.4% after 8.1%, facilitated by an 8.1% increase in real disposable incomes in January-July.

«In the absence of new shocks, Belarus’ economic growth may exceed our forecast and amount to more than 2% by the end of 2026,» the EDB said.